Popular crypto analyst Scott Melker was mistaken, saying that the bears were in trouble for Bitcoin (BTC) recently, and the price dropped.
Melker was released on February 9 via his official social media account. in his posta being overbought or oversold giving an idea of the situation Relative Strength Index (RSI) of bitcoin on the four-hour chart He drew attention to his signal.
Launching this as a bullish signal, Melker used the expressions “bears are in trouble”. However, upon this share of the analyst, Bitcoin was approximately thousand dollar drop lived.
The RSI managed to go from overbought to almost oversold with the price unchanged. Quite a feat, this is often considered a bullish sign. The bears are in trouble when the indicators reset without a price drop.
Bitcoin, which is in the chart shared by the analyst 22,600 from the dollar level to 5% experiencing a near fall 21,600 fell to dollar levels. Due to the decline that followed a while after this sharing, Melker was reacted by investors on social media.
According to Coinecko data, the latest 30 per day 20.9% last Bitcoin gaining value 24 per hour 0.2% depreciating at the time of writing 21,754 traded in dollars.
